Leading Off-Road Maker Polaris's Risky Bet On Electric
Polaris Inc. is a dominant player in the off-road vehicle market, selling top-of-the-line ATV's, snowmobiles, and utility vehicles, among others. Unlike many other companies, Polaris saw its revenue increase in 2020 thanks to an unexpected boom in powersports and increased interest in outdoor activities. While it rides this high, however, some doubt how long it can last.
In the past year, Polaris has begun expanding its electric vehicle line-up, hoping to gain some further momentum from the rapidly-growing market. However, some analysts are skeptical of the company's ability to push into the electric space, which may be challenging given consumer hesitation regarding comparative performance, as well as fierce competition from other leading brands.
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Leading Off-Road Maker Polaris's Risky Bet On Electric
April 13, 2021
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Will Robots Replace Human Financial Advisors?
Robo-advisors have had a meteoric rise in popularity since their debut in 2008 thanks to the support from millennials and Gen Z. Today, Robo-advisors manage $460 billion, with some analysts predicting it will become a $1.2 trillion industry by 2024.
Watch the video to find out why some investors believe it will never replace traditional human financial.
Since their debut in 2008, robo-advisors have had a meteoric rise in popularity. In 2020, they managed $460 billion, a 30% increase compared with 2019. Some analysts predict robo-advising will become a $1.2 trillion industry by 2024.
"Investors historically have had two options when it comes to managing their investments. They could do it themselves through something like an online broker or you can work with a financial advisor," explained Brian Concannon, head of Digital Advisor at Vanguard. "Now, with the advent of robo-advisors, there's a third option, and that's to merge the benefits of professional money management and advice with the convenience of an all-digital application."
Robo-advisors' sudden rise to prominence was made possible due to massive interest and support from millennials and Gen Z. According to a recent survey by Vanguard, millennials were twice as likely as young baby boomers to consider using a robo-advisor for investments.
"I believe that there are things that technology or algorithms can do better than humans can," said Taylor Crane, a robo-advisor customer. "And I have no problem trusting a software to do that."
Skeptics do not expect robo-advisors to replace human advisors entirely in the near future.
"Clearly, there's always going to be a human element that's missing," said Jason Snipe, chief investment officer at Odyssey Capital Advisors. "My problem always will be the emotional response. Take a situation like last year when we're going through Covid-19 and markets are moving a lot, dramatically. ... You can't talk to the technology, right?"
To combat this, many robo-advisor companies including Betterment and Vanguard began providing the option of hybrid services that combine both human and digital advice.
"[Some] investors we see crave validation from a financial advisor," said Concannon. "So for those investors, being able to pick up the phone and have a video conference with a financial advisor, have a discussion about their needs and wants goes an incredibly long way to providing them the peace of mind that they so desperately need."
Time is on the side of the robo-advisory industry as the technology continues to improve and the younger generations accrue more wealth.
"I think some combination of the two probably is where we are headed for in the future," said Snipe. "I think the robo space has room to grow. I think it will obviously modify and change and become even more sophisticated."
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Will Robots Replace Human Financial Advisors?
April 09, 2021
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How Tesla’s Battery Mastermind Is Tackling EV's Biggest Problem
Lithium-ion batteries are everywhere — in phones, laptops, tablets, cameras and increasingly cars. Demand for lithium-ion batteries has risen sharply in the past five years and is expected to grow from a $44.2 billion market in 2020 to a $94.4 billion market by 2025, mostly due to the boom in electric cars. And a shortage of lithium-ion batteries is looming in the U.S.
Former Tesla CTO and Elon Musk's right-hand man, JB Straubel, started Redwood Materials in 2017 to help address the need for more raw materials and to solve the problem of e-waste. The company recycles end-of-life batteries and then supplies battery makers and auto companies with materials in short supply as EV production surges around the world. Straubel gave CNBC an inside look at its first recycling facility in Carson City, Nevada. Watch the video to learn why battery recycling will be an essential part in making EV production more sustainable.
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How Tesla’s Battery Mastermind Is Tackling EVs Biggest Problem
April 10, 2021
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Why Covid Patients Could Face A Lifetime Of Money Problems
Covid-19 is a particularly vicious disease. While a significant number of people remain asymptomatic, other patients could go on to develop what researchers are calling post-Covid-19 syndrome. Americans suffering from the condition are running into financial problems due to the inconsistent nature of the U.S. health-care system.
CNBC spoke with three people about their experience battling Covid and paying for their treatment. Watch the video above to learn how coronavirus treatment costs add up long after patients leave the hospital.
0:00 - Introduction
1:40 - What the data says
3:28 - In for the long haul
7:40 - Government assistance
9:12 - What’s next?
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Why Covid Long Haulers Could Face A Lifetime Of Money Problems
April 09, 2021
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Why The U.S. EV Industry Is Facing A Battery Shortage
U.S. automakers are finally making bold commitments to electrify their fleets, but in the short-term, there may not be enough lithium-ion batteries to go around. While China dominates the battery manufacturing supply chain, and Europe is working to catch up, the U.S. still lags far behind. As batteries become a matter of energy independence and national security, here’s what the U.S. can do to catch up.
As automakers continue to grapple with a semiconductor shortage, some experts say the next supply chain crisis for the U.S. could involve lithium-ion batteries. As companies like GM, Ford and a slew of start-ups are ramping up their electric vehicle ambitions, current battery production in the U.S. will not be able to keep up with demand.
Though the U.S. does have a handful of large-scale battery manufacturing facilities, including Tesla's Gigafactory which operates in partnership with Panasonic, a trade dispute between two Korean battery makers, LG Chem and SK Innovation, threatens the future of a new battery factory in Georgia.
Watch the video to learn why the U.S. has fallen behind China and Europe, and what needs to happen in order to avoid a bottleneck in EV production.
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Why The U.S. EV Industry Is Facing A Battery Shortage
April 08, 2021
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How Mercedes-Benz Is Losing Its Prestige Image
Mercedes-Benz is perhaps the biggest name in luxury cars globally, and for countless buyers around the world, it is a car brand to aspire to own. The German automaker has a reputation for superb build quality, excellent engineering, and the bragging rights that its founder Carl Benz invented the first production automobile.
Today, Mercedes-Benz faces a new class of challenges as Tesla has become the aspirational brand for younger consumers. There is a slew of other EV hopefuls vying for the next generation’s aspirational vehicle’s mantle. Automakers have had to sink billions into new technologies and contend with a new crop of competitors in the critical Chinese market and around the world.
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How Mercedes-Benz Is Losing Its Prestige Image
April 06, 2021
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Why Americans Are Eating So Many Snacks
With Americans stuck at home, snack food has become a valuable commodity for the pandemic stressed consumer. North American sales of savory snacks like chips, popcorn, and pretzels climbed to $56.9 billion in 2020. In stressful times, people turn to snacking for comfort and Covid-19 has transformed kitchens across the U.S. into giant vending machines. So, has Covid-19 put an end to the shift to healthier snacks?
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April 01, 2021
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Why You Can Be Forced To Get The Covid Vaccine
A large portion of the U.S. population still doesn’t want to get the new Covid vaccine, but they might not have a choice. Powers at the federal and state level, not to mention the legal rights granted to employers under U.S. labor law, may make it impossible for Americans to escape inoculation against the coronavirus.
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Why You Can Be Forced To Get The Covid Vaccine
April 01, 2021
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Are DoorDash, UberEats Good For Restaurants?
While indoor dining has dropped way down during the pandemic, food delivery has grown considerably. DoorDash and Uber Eats, the two largest delivery apps by market share both saw their sales double from the end of 2019 to the end of 2020.
But while it might be an easy decision for customers to use these third-party delivery apps, the decision for restaurants is not so easy. There is a lot to consider, and it’s not a one-size-fits-all solution.
To find out more, watch CNBC’s deep-dive into the pros and cons of third-party delivery apps for restaurants.
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Are DoorDash, UberEats Good For Restaurants?
March 30, 2021
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Will NYC Go Bankrupt?
Mass unemployment, colossal bankruptcies, and a shattered tourism industry have ravaged New York City during the coronavirus pandemic. In January 2021, Governor Andrew Cuomo proposed raising taxes on the wealthy, while cutting Medicaid and school spending to balance the multi-billion dollar budget deficit. Opponents say tax hikes could lead to a mass exodus of the wealthy New Yorkers who fund a large portion of the city’s revenue. Others say that the crisis has exasperated existing inequalities and cutting social services will only hurt those most affected.
Concern over New York City’s future is brewing as state lawmakers consider drastic measures that could hinder the city’s recovery from the Covid-19 pandemic.
New York Governor Andrew Cuomo proposed in January raising taxes on the wealthy and cutting Medicaid and school spending at the state level. Conservatives argue that higher taxes could lead to wealthy taxpayers leaving the city, while progressives say reducing services could have a long-lasting impact on New York City.
New York City is highly dependent on its wealthy population. In 2018, the top 1% of earners made up 42.5% of total income tax collected by the city, according to the Independent Budget Office of New York City. That was $5 billion in revenue for the city.
“If they leave, there’s a huge fiscal crisis,” said Jared Walczak, vice president of state projects with the Center for State Tax Policy at the Tax Foundation. “How do you pay for all of these services? That affects everyone. The people who stay either have a higher tax burden or will receive fewer government services.”
“There’s a real question that policymakers need to address right now. How do you keep these people here? How do you make sure that post pandemic, they want to come back?” Walczak said.
But Kim Phillips-Fein, a historian at New York University, said cuts to services could hurt the city in the long run. She noted austerity measures taken during the 1970s fiscal crisis caused increasing inequalities that have haunted the city ever since.
Cornell University assistant professor Cristobal Young also pointed out that only a small fraction of wealthy people leave their states for tax purposes.
Watch the video above for more on New York’s situation and its potential road to recovery.
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Will NYC Go Bankrupt?
March 26, 2021
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How Texas’ Tough Winter Exposed U.S. Power Grid Problems
Texas had a rough winter in 2021. In mid-February, with temperatures dropping to the single digits, demand for electricity hit a record high throughout Texas. Supply ran short, causing the state’s electric grid operator to implement rolling power outages. At the height of the crisis, more than 4.5 million customers lost power. The freak winter storm caused neighboring states such as Louisiana, Oklahoma, Arkansas and Kansas to also impose rolling blackouts.
Texas residents shivered in the cold, as outages lasted for days at a time. They lost access to water. Some resorted to turning on their cars in their garages to keep warm then died due to carbon monoxide poisoning.
The historic breakdown was a wake-up call — if the power grid in Texas was so fragile, what about the rest of the United States? The U.S. has faced a 67% increase in weather-related power outages since 2000, according to data from Climate Central. Part of the problem is an aging infrastructure. Most of today's power grid was built in the 1950s and '60s, with the hopes that it would last for 50 years.
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How Texas’ Tough Winter Exposed U.S. Power Grid Problems
March 26, 2021
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How 401(k) Plans Work And Why They Killed Pensions
Since 1980, pensions plans have been phased out in favor of 401(k) plans. They now represent nearly one-fifth of the U.S. retirement market. So how did 401(k) plans become such a popular form of retirement savings and how should they be used? Watch the video to find out.
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How 401(k) Plans Work And Why They Killed Pensions
March 23, 2021
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Why China Is Beating The U.S. In Electric Vehicles
The global electric vehicle market is heating up and China wants to dominate. The country has invested at least $60 billion to support the EV industry and it’s pushing an ambitious plan to transition to all electric or hybrid cars by 2035. Tesla entered the Chinese market in 2019 and has seen rapid growth.
China sold roughly one million more EVs than the U.S. in 2020. But there are signs the U.S. is getting more serious about going electric. President Joe Biden announced a goal to reach net-zero emissions by 2050 and investments in green infrastructure. Watch the video to find out how China came to dominate the market and whether it’s too late for the U.S. to catch up.
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Why China Is Beating The U.S. In Electric Vehicles
March 23, 2021
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Is Texas Becoming The New California?
Tesla’s gigafactory and Apple’s second-largest campus aren’t the only big businesses coming to Texas. From Oracle to Hewlett Packard Enterprise, Elon Musk to Joe Rogan, Texas has lured an increasing number of big businesses and billionaires away from California since the pandemic began. While California’s population and job growth both slowed to a trickle, Texas added more residents than any other state in 2020. CNBC talks to those moving and longtime Texans about the reasons behind the trend and what it could mean for the future of the Lone Star State.
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Is Texas Becoming The New California?
March 20, 2021
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The Future Of The F-35 And The U.S. Air Force Fighter Fleet
The Joint Strike Fighter is the most expensive weapons program ever devised. Costing well over a trillion dollars, the F-35 was supposed to replace the frontline fighters for the U.S. Navy, Marines, and Air Force. But costly delays and setbacks have potentially pushed the Air Force to look for a cheaper option to help fill in the gaps left by the expensive F-35A.
Correction (March 19, 2021): At 5:30 the video misstates the cost of the program at $1.6 trillion to-date. The correct number is $1.6 trillion over the lifetime of the program.
The F-35A was designed to revolutionize fighter procurement. It was going to take the missions of several aircraft and do it all. The maintenance was going to be cheaper and easier due to cutting edge computer software. The list of planes it was going to replace was long. But the operating costs for the aircraft, which is around $36,000 per hour, are still around $10,000 more expensive than older fighters in the Air Force inventory.
“The biggest cost challenge that we face in the airplane is the life cycle sustainment cost of the jet. What I can tell you...is the Air Force is laser focused on that.” Said Brigadier General Abba, who is the Director of the F-35 integration office for the U.S. Air Force. “When we are talking about the cost per flying hour of an F-35, it includes all of those sorts of capabilities that in other airplanes, F-16, F-15, that are not organic to the platform itself. They're things that hang either on centerline stations or on wing stations to help the airplane accomplish its mission.”
Although the F-35 is an incredibly capable aircraft, the Air Force appears to have decided to diversify its fleet. The F-15EX, an upgraded version of the F-15 that first flew in the 1970s is on the acquisition block, and the initial F-15EX was delivered to the Air Force this month. And recent comments by the Air Force Chief of Staff, General Charles Brown Jr., illustrated the possibility of procuring a light fighter to be a replacement for the aging F-16.
“The idea that, you know, because there are some affordability challenges that the USA is somehow going to just bail on this program is mad.” Said Justin Bronk, a Airpower and Technology Research Fellow at the Royal United Services Institute. “Of course, they have to consider the future flights it makes because the sums don't add up and they haven't had it up for a long time. And good on General Brown for grasping the mettle on that publicly.”
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The Future Of The F-35 And The U.S. Air Force Fighter Fleet
March 19, 2021
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Could Tesla Succeed In India?
As Tesla looks to expand to new markets, rumors are circulating that India could be next. While the 5th largest auto market could be big for the ev manufacturer, it’s filled with challenges and increasing competition.
There is an electric vehicle revolution sweeping the world, but India is lagging behind. Elon Musk has said that Tesla will enter India this year, but it's not clear if that will actually happen. On January 8th, Tesla took its first step towards launching in the country, registering Tesla Motors India and Energy Private Limited in Bengaluru.
But when Tesla does eventually come to India, it won't be easy. The electric vehicle industry is in its infant stages there, lacking much of the infrastructure needed for widespread adoption. And the most popular vehicles are motorcycles, rickshaws and budget passenger cars. Watch the video to find out what Tesla will be up against in India.
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Can Tesla Succeed In India?
March 18, 2021
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Why Tipping Is An American Custom
Tipping is a quintessential American custom. In the U.S. consumers tip for services ranging from baggage handlers at the airport to housekeepers at hotels.
But according to some analysts, tipping has created an environment where restaurant servers are subjected to sexual harassment and low pay. About 70% of tipped workers in the restaurant industry are women and about 45% are people of color.
In a recent study by One Fair Wage and UC Berkeley's Food Labor Research Center over 78% of restaurant workers reported witnessing hostile behavior from customers who were asked to follow Covid-19 safety protocols, more than 40% noticed a change in the frequency of unwanted sexual comments from customers and 83% said their tips had declined during the pandemic.
With Covid-19 leaving millions to do essential work for low pay there have been renewed calls for a $15 minimum wage and the elimination of the tipped minimum wage — the base salary for many restaurant workers.
Forty three states, including Georgia, North Carolina and Texas, have a tipped minimum wage for workers who in some cases are paid as little as $2.13 an hour by their employer.
But many in the full-service restaurant industry oppose the proposed changes, saying they would lead to higher menu prices and fewer hours for workers. According to the National Restaurant Association, the pandemic has already enacted a devastating toll on the industry, wiping out 2.5 million restaurant jobs and more than 110,000 eating and drinking establishments in 2020 alone.
Watch the above video to find out what the $15 minimum wage and the elimination of the tipped minimum wage would mean for restaurants and their employees.
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Why Tipping Is An American Custom
March 17, 2021
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How Subaru Plans To Maintain Its Unlikely Success
Subaru started as a small scrappy Japanese brand, brought to the states by a couple of American businessmen in the 1960s, and was quickly met with ridicule. But it persisted, and over the decades has gone from being a small niche player to one of the most successful brands in America.
Subaru has weathered economic recessions far better than much larger competitors, and it is positioned near the top of consumer satisfaction surveys. But the ever-changing auto market presents some challenges for them, and they need to adapt to keep up.
When Subaru entered the United States in the 1960s it was panned by critics, and actually advertised its own cheap ugliness.
Over the next several decades it would become a highly successful brand through a combination of offbeat but practical cars and a relentless focus on understanding its own customers.
The scrappy brand enjoyed a 93-month sales increase streak that ended in 2019, and it has found ways to survive during the coronavirus pandemic.
But it is not without challenges. The intense demand for its vehicles has at times brought growing pains -- quality issues and recalls gave led to an unusual quarterly loss in 2018.
There is also pressure on the company, like all automakers, to develop some kind of electrification strategy. Subaru does have a partnership with the much larger Japanese automaker Toyota, which is expected to soon produce an electric vehicle jointly made by the two companies.
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How Subaru Plans To Maintain Its Unlikely Success
March 16, 2021
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How Wrigley's Dominated The World Of Chewing Gum
Gum lines the pockets of most Americans and has been a staple in American culture for centuries. For some, gum is all about flavor, and for others, it's about fear of bad breath, curbing hunger, or alleviating anxiety. For nearly 130 years, the brand Wrigley's has become synonymous with chewing gum. Since its start, the gum maker has dominated the chewing gum market, spawning brands from Juicy Fruit to Orbit to 5 Gum.
But it hasn't always been smooth sailing for the William Wriglely Jr. Co.; over its storied past, the brand has faced turbulent years. Since the early 2000s, the chewing gum market has seen a decline in public sentiment, which hurt significant players. In 2006, the company ended its long-standing tradition of being a family run business with William Wrigley Jr. stepping down as CEO. By 2008, Wrigley's faced increasing global competition and was acquired by Mars along with Warren Buffett's Berkshire Hathaway.
According to Euromonitor International, the gum industry's market value hit $18.6 billion in 2020. Since 2015, Mars Wrigley has held 25% of the global brand share for chewing gum and a 40% portion in the U.S. The Covid-19 pandemic since it began in March 2020 has negatively impacted gum's most prominent players and could negatively affect Mars Wrigley gum brands' future.
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How Wrigley Dominated The World Of Chewing Gum
March 12, 2021
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Behind The Corporate Bond Market's $10.5 Trillion Debt 'Bubble'
U.S. companies now face the highest levels of debt on record — more than $10.5 trillion, according to the Federal Reserve and the Securities Industry and Financial Markets Association, or SIFMA.
The coronavirus pandemic is only part of the story.
The corporate debt market is where companies go to borrow cash. And for over a decade, super-low interest rates left over from the 2008 financial crisis have made borrowing easier and easier. Since then, U.S. companies have regularly offered up bonds for sale, taking advantage of the cheap access to cash.
Sometimes companies can get reckless with debt, and this can result in bonds facing downgrades and low ratings, putting those companies at junk bond status. Overborrowing can result in companies becoming "fallen angels" or "zombie" companies.
Between rising interest rates and inflation concerns, Wall Street is watching the bond market closely and checking the pulse of the U.S. economy.
Here's how the corporate bond market got to these "bubble" levels and just how risky this massive amount of debt may be to the U.S. economy.
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Behind The Corporate Bond Market's $10.5 Trillion Debt 'Bubble'
March 12, 2021
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